The Supreme Court today said that there were no grounds to transfer the capital markets regulator SEBI's investigation into the Hindenburg case to a Special Investigation Team (SIT). In a victory for the Adani group, the court ruled that George Soros-led OCCRP's report cannot be basis for doubting the regulator's probe.
Here are the top quotes by the Chief Justice of India on the Adani-Hindenburg case:
- "The government of India and the Sebi to look into if there is any infraction of law by the Hindenburg report on short selling and if so, take action in accordance with law."
- "SEBI has completed investigation in 20 out of 22 matters. Taking into account the assurance of the Solicitor General, we direct the SEBI to complete the investigation in the other two cases within three months."
- "The power to transfer investigation must be exercised in exceptional circumstances. Such powers cannot be exercised in the absence of cogent justifications."
- "Reliance on newspaper reports and third-party organisations to question the statutory regulator does not inspire confidence. They can be treated as inputs but not conclusive evidence to doubt SEBI probe."
- "Before concluding, public interest jurisprudence was developed to provide access to ordinary citizens. Petitions which lack adequate research and rely on unsubstantiated reports cannot be accepted."
(Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)
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